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Stock markets hit new highs despite U.S. economic data, government shutdown
['Wed', 'October', 'At P.M. Gmt', 'Min Read']
Yahoo Finance - Business Finance, Stock Market, Quotes, News
TORONTO — Canada's main stock index continued to reach new highs, while U.S. markets also pushed further into record territory as investors shrugged off new data on the U.S. jobs market and a government shutdown.
Theresa Shutt, chief investment officer at Harbourfront Wealth Management, said markets were “clearly not slowing down” on concerns about the U.S. government shutdown that began on Wednesday.
As Canadian equity markets continued into record territory, Shutt said much of the gains were from the materials sector, noting that investors have been flocking to gold this year.
Usually, traders on Wall Street wait for a more comprehensive jobs report that comes from the U.S. government each month to suss out how the job market is doing.
According to Shutt, markets were expecting softer U.S. job numbers on Friday.